Seeking Alpha
Editor's notes: Exaggerated PC-related fears and pessimistic views of Lenovo's mobile device opportunity have left shares deeply undervalued. Focus on the middle of the market means the stock has 35-60% upside.

Every time a new consumer tech gadget comes out, it seems like investors forget a simple a rule - sooner or later, everything becomes a commodity and success comes down to who can design, build, and ship at the most appealing cost structures. That's something that Lenovo (OTCPK:LNVGY) has quite a bit of experience with, as it has used internal execution and significant acquisitions to become the world's #1 PC vendor and the #3 handset company.

I don't see any reason to believe that Lenovo is done. The company has started to build its server business, and may ultimately strike a deal with IBM (IBM) that would vault it into the #3 slot almost...

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